Acquisition of a new primary healthcare centre

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Acquisition of a new primary healthcare centre

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United Kingdom

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MedicX Fund,the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom, is pleased to announce that it has contracted to acquire a new primary healthcare medical centre in Watford, Hertfordshire which is due to be completed in December 2013. The property will be let to two GP practices, a pharmacy and the Hertfordshire Partnership NHS Foundation Trust. The GP and pharmacy leases are for 20 and 35 years respectively subject to three-yearly rent reviews, the pharmacy being indexed to RPI. The Foundation Trust's ten year lease is for shell accommodation subject to five-yearly market rent reviews. The total acquisition cost of the property is £7.74 million. The MedicX Fund's total property portfolio now comprises 123 properties throughout the United Kingdom of which 111 are complete, 10 are under construction and two are yet to start construction. The annualised rent roll for all properties is now £28.8 million. http://www.medicxfund.com/news-item?item=1599712109002752 Project Name Acquisition of a new primary healthcare centre Location United Kingdom Commence 2013 Completion -NA- Estimated Investment 7.74 million Euros Capacity -NA- Key Players MedicX Fund